Was Coinbase’s Bitcoin Cash Rollout A Designed Hit?

Monday, December 25, 2017
By Paul Martin

by Tom Luongo,
Dec 25, 2017

There’s an excellent article over on Breitbart that looks at the details of Coinbase’s surprise roll-out of Bitcoin Cash (BCH) as a trading vehicle on their in-house exchange GDAX. It details the whole sordid mess and I would recommend anyone interested in the topic to read it for what it implies.

To me, however, being the cynic that I am if there is a path to harming Bitcoin and the cryptocurrency market available to the money center banks, then they will always opt for it.

I’ve been pretty vocal about the need for having a slow, annoying reserve asset in the cryptocurrency space. I’ve talked about it multiple times (here and here). This doesn’t jibe with Bitcoin Cash proponent and Bitcoin.com CEO Roger Ver’s image of Bitcoin.

And that is to Roger’s credit, actually. It’s pretty obvious from a cursory glance at Roger’s Twitter feed that he approaches Bitcoin as a radical libertarian/Austrian Economist would — a purely decentralized, trustless money that can wrest control of the world’s monetary system from rentiers in Government and Banking.

Music to my ears.

Solution in Search of a Problem

On the other hand is the very shady attitude of Blockstream and the Bitcoin Core group who prevailed in the Segwit 2x fight, which, from Roger Ver’s perspective is actually a mop-up operation, not the decisive battle in the war.

The reason there is so much hostility from Bitcoin Core towards Bitcoin Cash is because Core knows they have stolen the name but are advocating a completely different system than what was originally described by Satoshi.
Bitcoin Cash is Bitcoin
— Roger Ver (@rogerkver) December 19, 2017

The real battle for the soul of Bitcoin happened back in August with the fork that created Bitcoin Cash. Complaining about all of these other forks are, to Roger, is like closing the barn door after the horses are gone.

By keeping Bitcoin slow and expensive they create the need for new solutions to improve it. Why solve a problem when you can artificially create one and then sell everyone the solution?

The Rest…HERE

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